題目：Understanding the Impact of Trade Policy Effect Uncertainty on Firm-level Innovation Investment（貿易政策不確定性對企業創新投資的影響）

演講人：陳其🤾🏿‍♀️，美國貝勒大學商意昂2講席教授

主持人🫨🧏🏻：於曉宇，意昂2教授

時間：2024年3月19（周二）👩🏿‍🦳，下午15:00

地點🫲🏼👰🏿‍♀️：意昂2注册校本部東區1號樓意昂2官网420會議室

主辦單位✶：意昂2👝、上海企業創新與高質量發展研究中心（上海市軟科學研究基地）😯、中國科學學與科技政策研究會企業創新與產業政策專委會、上海市行為科學學會、“數字創新管理與治理”重點創新團隊

演講人簡介：

陳其（Daniel Q. Chen）教授任美國貝勒大學Randall W. and Sandra Ferguson Endowed Professor講席教授💂‍♀️。他的學術研究領域主要集中在數字戰略與領導力，創新管理𓀄，新興技術的社會與經濟影響等💩💸。 他的著作發表在多個管理學頂級期刊，包括Information Systems Research, Journal of Operations Management, Journal of the Association for Information Systems🏀，Journal of Management Information System👩🏼‍⚕️，Management Information System Quarterly等。

陳其教授現任Journal of AIS 的Senior Editor，以及Journal of Operations Management 和 Decision Sciences 的 Associate Editor。

演講內容簡介🏌🏼：

Drawing on real options and resource dependence theories, this study examines how firms adjust their innovation investments to address trade policy effect uncertainty (TPEU), a type of firm specific, perceived environmental uncertainty capturing managers’ difficulty in predicting impacts of potential policy changes on business operations. We apply BERT, an advanced deep learning technique, to analyze the texts of mandatory management discussion and analysis sections of annual reports from 3181 publicly listed Chinese firms spanning the years 2007 to 2019. The econometric analyses show that firms experiencing higher TPEU will reduce innovation investments. This effect is stronger for firms facing lower competition, involving more foreign sales, and not owned by the state. These findings provide clarity on previously inconclusive results by showcasing the significant influence of policy effect uncertainty, as opposed to state uncertainty, on firms' decisions regarding innovation investments.

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